Trader Warns "Time Won't Heal These Market Wounds"

"Markets can trend, range trade, and correct. But one thing they can’t do under the current scenario is time-correct. The minute they stop moving, a powerful, even if short-lived, impulse takes over to reevaluate, cherry-pick and average down."

Lower 48 Production Nears Cycle Highs As Rig Count Rises For 18th Straight Week

While much was made of this week's drop in US crude production, it was driven by an Alaskan supply drop, not the Lower 48 whose production is at Aug 2015 highs. WTI back above $50 on the back of more OPEC jawboning appears to have everyone convinced this time is different, but for the 18th week in a row US oil rig counts rose (by 8 to 720).

The Real 'Monster' Eating The Nation

"The colossal security apparatus of this country has become a monster eating America... the Deep State’s main motive is moving heaven and earth to dump Trump... But when they do, of course, they are libel to foment an insurrection every bit as ugly as the dust-up that followed the shelling of Fort Sumter."

Goldman Slashes Trump Tax Cut Forecast By Over 40%

"We are lowering our expectations for fiscal policy changes over the next year. Rather than the $1.75 trillion/10 years tax cut we had previously assumed, we now assume a cut of $1 trillion."

Total Airplane Laptop Ban Coming Or Not? What Are The Issues?

Following intelligence reports that ISIS may be planning to attack airlines with laptop computers rigged as bombs, Trump initiated a ban on laptops on some flights from some airports. Rumors had it that the ban was going to be extended to make things “uniformly fair”. Fortunately, common sense prevailed, for now.

The Death Of The Virtuous Cycle

Most Ph.D. economists, including those at the Federal Reserve, have convinced investors, policy-makers and U.S. citizens that durable economic growth stems from debt-fueled consumer spending. This is not only a patently false claim, but it has immense implications for investors...

Fed's Bullard Slams Recovery Narrative, Confirms Fed Top-Ticked Economy; Hints At Fed Policy Error

In a surprisingly candid discussion of the recent economic slowdown, St. Louis Fed president said growth is unlikely “to move meaningfully” this year from the current trend of about 2% and that inflation expectations “have surprised to the downside.” adding that financial market readings since the March decision have been opposite of expectations. "This may suggest that the FOMC’s contemplated policy rate path is overly aggressive relative to actual incoming data."